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Nomos Bank has acquired a 51% stake in Rapida Payment Systems

29.03.2011

Nomos Bank, Russia’s leading private banking group and the eighth largest banking group in Russia in terms of assets, completed its acquisition of a 51% controlling stake in the Rapida Payment System on March 22nd.

«This acquisition of the Rapida Payment System — which demonstrates high growth rates, as well as positive financial and operating results — is in keeping with the business strategy of Nomos Bank which includes partially diversifying sources of income and retail development,» said President of Nomos Bank, Dmitry Sokolov.

For his part, President of Rapida Payment System, Valery Barinberg said, «The many years of experience and opportunities of Nomos Bank will further promote the business and strengthen its position in the Russian financial services industry.»

The rapidly growing Russian instant payment market has a high investment attractiveness to strategic investors.

Rapida Payment System is a successful, rapidly growing company that develops new approaches and develops and implements innovative technologies. Rapida Payment System provides payments by individuals for services, including utility bills, fixed—line and mobile telephony, internet, and repayment of bank loans.

No changes are planned in the top management of Rapida Payment System in connection with the deal.

NCB Rapida Payment System Ltd is one of the oldest Russian payment systems (license CBR No. 3371-R from 28.05.2001 (No.3371-K from 30/8/2004)), which works in collaboration with the Russian Postal Service, Google, the largest Russian and foreign banks, trading and service enterprises, including leading operators of commercial television and Internet service providers, utilities, and major retail chains.

Facilities and services are provided through via ATMs, shopping networks, Internet, mobile phone, bank offices and partnering companies.

The Nomos Bank Group is currently the 8th largest banking group in Russia by assets and the 2nd largest privately-owned Russian universal banking group. As of December 31, 2010 Nomos Bank total assets were RUB 530.2 billion and equity of RUB 57.9 billion under audited IFRS accounts. Nomos Bank Group has the 9th largest branch network in Russia with 300 offices in economically important regions of the Russian Federation, with the majority of its business concentrated in Moscow, St Petersburg and the Tyumen (including Khanty-Mansiysk autonomous district), Novosibirsk and Khabarovsk regions. The Nomos Bank Group provides a full range of banking services to corporate, small business and retail clients.